While institutional investors stack up Bitcoin via hybrid cryptocurrency service providers and custodians, a solo Bitcoin miner made a profit of over $35,000 with simple Crypto mining equipment. The miner pulled off the biggest feat in mining Bitcoin by just utilizing 2.3 PH/s of energy to mine an entire block.
Pete Rizzo, an eminent leader in cryptocurrency, pointed that the Bitcoin miner cracked block #903883. This feat is referred to as the crypto mining version of winning a lottery. The block was mined on CKpool – a pool for mining crypto for individual miners.
Why Is This A Big Deal?
The odds of mining an entire block for a solo miner are 1 in 2,800 per day. According to sources, the miner used a rig that produced 2.3 petrahashes and with that kind of energy there is only a 0.004% chance to mine an entire block.
For a miner to mine a block at least once per month, more than 166,000 terahashes per second are required.
To achieve this performance, a miner or group of miners would need to spend millions to purchase, set up, and maintain mining rigs.
Solo Crypto Mining Rigs Less Profitable?
When crypto made its debut only a few people knew what it means and whether they can be of any use or not. Many hit the jackpot when Bitcoin faucets gave Bitcoins to users who solved a captcha. Yes, that’s right.
But as Bitcoin became popular, people started investing in solo mining devices like the Bitaxe Gamma, FutureBit Apollo BTC, or Canaan Avalon Nano 3. These solo mining devices can produce only a few terrahashes and aren’t the perfect choice to mine Bitcoin as its computing power is extremely low.
Previous Bitcoin Mining Luck Stories
In February, 2025, another solo miner won big time. The miner earned 3.125 BTC on block 883,181 on the Bitcoin blockchain. The estimated value of earnings was ~ $300,000. The crypto community speculated that the miner may have used a Bitaxe miner.
Another tale of BTC mining jackpot: A solo miner made over $333,000 by mining a block at 899,826.
Bitcoin Mining Will Be A Costly Affair
While there are many who are jumping the Bitcoin mining wagon, many seasoned miners also decided to quit mining BTC as the cost to produce Bitcoins was more than the reward. Many crypto miners have moved away from mining Bitcoin to other proof of work cryptocurrencies as the competition to beat fellow miners on the block is comparatively less. Some popular proof of work cryptocurrencies besides Bitcoin are Litecoin, Bitcoin Cash, Ethereum Classic and Ravencoin.
